Has anyone had problems with your banks....

[Ray Luca]

Re: Has anyone had problems with your banks....

Don't forget Patriot Act


[h=2]Sec. 328. International cooperation on identification of originators of wire transfers[/h]The Secretary of the Treasury must take all reasonable steps to encourage foreign governments to require the inclusion of the name of the originator in wire transferinstructions sent to the United States and other countries, with the information to remain with the transfer from its origination until the point of disbursement. They must also report annually to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate on the progress Treasury is making on this issue and what is impeding progress of implementing the wire transfer identification scheme.

 

[mike499]

Re: Has anyone had problems with your banks....

What about the guy that does not carry high five figure amounts and maybe has 800 to 1000 at any given time in his accounts do checks varying between say 3k to 7k maybe five or six times a year look strange

 

[RealSlimShady]

Re: Has anyone had problems with your banks....

What about the guy that does not carry high five figure amounts and maybe has 800 to 1000 at any given time in his accounts do checks varying between say 3k to 7k maybe five or six times a year look strange

I would think so......

 

[Ray Luca]

Re: Has anyone had problems with your banks....

Read the part about the sanctions carefully....i'll be back later w the report and section of law that I never liked.

[h=3]Suspicious Activity Report (SAR)[/h]The SAR must report any cash transaction where the customer seems to be trying to avoid BSA reporting requirements by not filing CTR or MIL, for example. A SAR must also be filed if the customer's actions suggest that he is laundering money or otherwise violating federal criminal laws and committing wire transfer fraud, check fraud or mysterious disappearances. The bank should not let the customer know that a SAR is being filed. These reports are filed with the Financial Crimes Enforcement Network("FinCEN").
[h=2][edit]Sanctions[/h]There are heavy penalties for individuals and institutions that fail to file CTRs, MILs, or SARs. There are also penalties for a bank which discloses to its client that it has filed a SAR about the client. Penalties include heavy fines and prison sentences.

 

[Bucky]

Re: Has anyone had problems with your banks....

I guess whatever we have - has to stand the test of public knowledge. Secrecy is not an option for post up players. But, for sportsbooks to keep using bank instruments does nothing but piss the DOJ off. It is like rubbing it in their face.

What's wrong with the money order method? I know technically it is a bank instrument. But, there is no law against buying a money order. Just like you can send a moneygram to Jose Raul Luis Gonzalez. It is person to person. Send them blank to whoever you want. They can send them to you blank. Give them to whomever you want. Buy groceries with a 500 money order. They are like gold. Banks don't bat an eye to cash a money order. Go to Walmart - cash your butt off.

I mean - let's at least try to stay under the radar!!! The key is person to person!

 

[Sportsrmylife]

Re: Has anyone had problems with your banks....

Excellent info Ray. Keep it coming.

My question is that how have poker players taken money off sites such as lock poker without being pulled over the coals. How about sending money to the European WSOP since they usually send mid five figures to cover buy ins and expenses.

I'm sure that Phil Ivey didn't travel to Maucau (misspelled I believe) to play in those huge cash games by having a carry on bag with several millions in it on the flight.

Also I understand about taking money off sites in small pieces but if I want to take $15k or more off a site doing it in $500 pieces is going to make my eyes bleed.

Is it possible to have an online account but when you would like to get some money off a site to meet with an agent for a person to person cash transaction?

 

[Sportsrmylife]

Re: Has anyone had problems with your banks....

No problems yet, but I can see them coming. My small, rural bank required me to sign a document upon establishing my account that I'd describe as "UIGEA acknowledgement and understanding thereof." Translation: if you try to deposit to or from any illegal Internet gasmbling site, we will take your money and fine you severely.

In spite of having signed this document, I have deposited two checks around $2k each with no problems. Fact is, the bank has given me immediate credit on each one. But since they were not cashier's checks, I sweated each one being made good.

Last time I got money, I did it via Moneygram. Go to Walmart and pick up your $800. Easy, quick, & relatively clean. Drawback: 5D charged me $70.

I may have to talk to Tuck on my next Vegas trip.

This really sounds like a fuck job by your bank. I don't think I would bank here after they would show me that document.

I really like texas guy's idea with the small bank. Maybe be upfront and say "listen I play online poker and will be having some 5 figure deposits coming into your bank in the near future. I would greatly appreciate it if these deposits were cleared without a problem. With each successful deposit your cooperation won't be overlooked."

I'm sure there are a few bank presidents that wouldn't mind making a few extra grand each year for letting some deposits slide by.

 

[kinosh]

Re: Has anyone had problems with your banks....

10K and up get reported to FED

I'm not sure about the banks, but YOU are required to report it on Form TD F 90-22.1. To stay under the radar (if that's possible), I make sure I don't have over $10k overseas and I don't move money in and out of my sportsbook accounts unless I have to.

 

[Ray Luca]

Re: Has anyone had problems with your banks....

I guess whatever we have - has to stand the test of public knowledge. Secrecy is not an option for post up players. But, for sportsbooks to keep using bank instruments does nothing but piss the DOJ off. It is like rubbing it in their face.

Exactly. And Janet Reno had a hard on for G. They can do whatever they want.

Concerning the money orders, here is one of my secrets. I purchase tons of them. US Postal money orders.... $1,000 is the max here in the states but they are good forever. Most people are scratching their heads right now and saying whats Luca talking about good forever? You need to be aware of the States abandoned property laws. Cashier checks and bank money orders have an expiration date and that bank after 5 years, (some states 3 years) must turn over the money to the state of the owners last known address. You can still recover it but you will need the actual instrument and most likely get caught up with the state governments red tape in claiming it back. It could take months....something to be aware of

 

[Ray Luca]

Re: Has anyone had problems with your banks....

Excellent info Ray. Keep it coming.

My question is that how have poker players taken money off sites such as lock poker without being pulled over the coals. How about sending money to the European WSOP since they usually send mid five figures to cover buy ins and expenses.

I'm sure that Phil Ivey didn't travel to Maucau (misspelled I believe) to play in those huge cash games by having a carry on bag with several millions in it on the flight.

Also I understand about taking money off sites in small pieces but if I want to take $15k or more off a site doing it in $500 pieces is going to make my eyes bleed.

Is it possible to have an online account but when you would like to get some money off a site to meet with an agent for a person to person cash transaction?

peruse this site http://www.fincen.gov/

(Financial crimes enforcement network)

 

[Sportsrmylife]

Re: Has anyone had problems with your banks....

So Ray you are suggesting getting $1,000 money orders at the US Post office, send those offshore and then get your money from the offshore in the form of a money order and cash it in at the post office?

Thanks for the link....I'll put some work in on it later tonight.

 

[Sportsrmylife]

Re: Has anyone had problems with your banks....

Actually looked at a few of my offshore sites and money orders seems to be a very good option. Now since this site is very balanced with both sides of a story what are the "downsides" to sending money offshore via money orders and getting withdrawals from offshores as a money order?

 

[Bucky]

Re: Has anyone had problems with your banks....

No, you don't cash them at the post office. They come blank and the offshores don't use US postal money orders very often to pay. They like to use
Western Union.

When we receive blank money orders for a nickel apiece - the down side is - don't lose them! Don't let anybody steal them. Track them - know exactly what day they are supposed to arrive and if they don't show up -call the company. Stop pays are possible - but you have to be right on it! Have all your receipts from your side of it. Get a photo copy made right away.

They are most likely safe in the courier's hands but you never know - so - keep it under 5k at a time with the package.

 

[Ray Luca]

Re: Has anyone had problems with your banks....

So Ray you are suggesting getting $1,000 money orders at the US Post office, send those offshore and then get your money from the offshore in the form of a money order and cash it in at the post office?

Thanks for the link....I'll put some work in on it later tonight.

No actually that was more of a way to keep large sums of cash neatly in a coat pocket in the closet without it literally in the mattress